Industrial technology seller Hurco's Q3 sales rise 7%
Overview
Hurco fiscal Q3 sales rise 7% yr/yr, driven by growth in Americas, Asia Pacific
Net loss narrows to $3.7 mln from $9.6 mln in prior year
Orders fall 22% amid cautious capital purchase decisions, reflecting macroeconomic uncertainty
Outlook
Hurco optimistic about future profitability with strong cash position and tech investments
Result Drivers
AMERICAS GROWTH - Sales in the Americas rose 10% due to increased shipments of Hurco and Milltronics machines
ASIA PACIFIC EXPANSION - Sales in Asia Pacific surged 48%, driven by higher sales of Takumi machines
EUROPEAN STAGNATION - European sales remained flat, with favorable currency impacts offset by decreased shipments in France and Germany
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income |
| -$3.69 mln |
|
Q3 Capex |
| $932,000 |
|
Q3 Gross Profit |
| $9.11 mln |
|
Q3 Operating Income |
| -$1.65 mln |
|
Q3 Pretax Profit |
| -$3.13 mln |
|
Press Release: ID:nGNX6ZG3HJ
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